Historic Hearst Estate in Beverly Hills Returns to the Market at Discounted Price of $89.75 Million

An iconic piece of Los Angeles history has returned to the market at a steep discount.

The Hearst estate in Beverly Hills was relisted at $89.75 million, after longtime owner, attorney Leonard Ross, attempted to sell for $195 million in 2016, according to The Los Angeles Times. Ross has since racked up more than $50 million in debt on the estate, and his lender Fortress Investment Group has successfully petitioned the bankruptcy court to force the sale.

Anthony Marguleas of Amalfi Estates, Gary Gold of Hilton & Hyland and Zizi Pak of Rodeo Realty share the listing.

The property comes with a priceless history that includes its most famous owner, publishing magnate William Randolph Hearst, who bought it with actress Marion Davies. It was built in 1927 by Gordon Kaufmann, who's also responsible for the Hoover Dam, Greystone Mansion and the Hollywood Palladium.

Also known as the Beverly House, it's seen some notable visitors over the years, including Jacqueline and John F. Kennedy, who spent their honeymoon at the estate in 1953. It would later serve as the West Coast campaign headquarters for the future president and first lady. The massive property also provided filming locations for The Godfather (1972) and The Bodyguard (1992).

Sitting on 3.5 acres, the salmon-colored structure is shaped like an H, with two guesthouses, a pool house and a two-story guesthouse. The most recent expansion was completed in the 1990s.

The 29,000-square-foot main house features 22-foot hand-painted ceilings, a two-story wood-paneled library, two screening rooms and an Art Deco nightclub, complete with a bar salvaged from Hugh Hefner's L.A. supper club Touch, which closed in 1986.

A billiards room has original herringbone floors, as well as a stone fireplace from Hearst's former home, the iconic Hearst Castle in San Simeon, California.

With eight bedrooms, there's space for plenty of visitors. The estate comes with a number of patios and balconies, with views of the tennis court, Olympic-sized swimming pool and stunning manicured gardens, designed by landscape architect Paul Thiene. Fountains, loggias, lawns and terraces throughout the private grounds are lit by vintage lampposts.

Source: Read Full Article